There are several compelling reasons for any forward-thinking, industry leader to invest in their people as much as, if not more than, other elements of their organisation. It is therefore within all organisations best interest to re-invest in their staff as good help is difficult to come by—and even more difficult to lose. Employee turnover not only eats into your time as a business owner, but it also eats into your profits.
The truth is that if you don't invest in your people, you're not investing in your company's future. Investing in your staff is a crucial element of creating an engaged workforce, as well as a cost-effective approach to reduce attrition.
Here are some key reasons why investing in upskilling your staff is one of the smartest business decisions you can make.
You'll witness increased productivity
Companies with a strong development culture are more likely to have engaged staff - it really is that simple. Although this seems self-evident, it’s a concept that many executives fail to understand and implement. Staff who feel that they have been invested in will work harder, because they feel they have a personal affiliation and connection to the work they produce.
It’s good for your ROI
Employees that are happier at work are more productive. As a result, the work they do for your business is of higher quality. In essence, better work means higher quality for your company overall, and when your firm produces higher-quality products or services, your reputation will improve. Your business will have a better chance of thriving because employees are happy, the balance sheet is happy, and you are happy.
It’s also important to make sure that as an employer, you are making it easy for people to accomplish their jobs and to cultivate a culture of creativity, cooperation, and empowerment. This has the potential to significantly boost earnings and business performance.
Attract leading market talent
Investing in your staff by assisting them in the development of new abilities can help you attract new talent. As word of your organisation spreads, you'll be more likely to attract top-tier personnel in your field, which can assist your company's growth even further.
Employee turnover is expensive in several ways. It forces you to invest time and money in finding new staff. It encourages a culture of "revolving door" employees who aren't invested in your firm. Employees that need to be trained are less productive than fully trained members of your firm, putting a strain on your resources.
The best ways to upskill is to do so in teams
Upskilling teams is the most efficient way to reinvest in your staff. It also creates an atmosphere of team camaraderie and leadership.
The Women in Technology World Series gives your staff the opportunity to develop not only technically, but also their soft skills – you are preparing them to overcome challenges not just from a technical side of things, but from bigger picture challenges that involve greater teamwork.
The Series also allows teams to collaborate, discuss ideas and share a sense of togetherness, providing a renewed sense of purpose. It’s a great way to get your team re-energised and impassioned about their job and show them that investing in their growth is a key priority for you as an employer.